---
schema_version: "secwatch.filing_event.v1"
accession: "0000038777-23-000145"
form_type: "8-K"
ticker: "BEN"
cik: "0000038777"
company_name: "FRANKLIN RESOURCES INC"
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T03:29:12.707004+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Franklin Resources to issue 33.3M shares to Great-West in Putnam buy

## Summary
- 33,333,333 shares (4.9% of outstanding) issued at closing to Great-West.
- Additional $100M cash payable 180 days post-close; up to $375M contingent consideration.
- 4.9% stake subject to five-year lock-up; remaining shares locked for 180 days.
- Issuance exempt from registration under Section 4(a)(2) as private placement to accredited investor.

## SEC filing metadata
- accession: 0000038777-23-000145
- form_type: 8-K
- ticker: BEN
- cik: 0000038777
- company_name: FRANKLIN RESOURCES INC
- filed_at: 2023-11-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/38777/000003877723000145/0000038777-23-000145-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/38777/000003877723000145/ben-20230531.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000038777-23-000145
- JSON: https://secwatch.observer/filing/0000038777-23-000145.json
- Plain text: https://secwatch.observer/filing/0000038777-23-000145.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.